ERP Latest News and Trends

The global enterprise resource planning (ERP) software market is predicted to hit almost $70 billion by 2017. More and more enterprises are depending on ERP solutions and systems, and tomorrow’s business finance and account executives have to know how the software works, if they are going to succeed.

UCLA is working to make sure its students will have the hands-on knowledge they need to work with the software solutions that will run tomorrow’s businesses. Epicor Software Corporation, a world leader in business software solutions, will be collaborating with UCLA Extension to bring Epicor’s next generation ERP solution to business and accounting students in the 2013-2014 academic year. Students will be able to work with real-life ERP systems currently being used by companies around the world.

Working in a live ERP environment trains students to deal with real life complex transactions using actual business data, including order-to-cash processes, the procure-to-pay process, and other financial management systems. This provides practical experience with core ERP modules including general ledger, payroll, order entry, inventory, purchasing, and even executive information. By the time these students get their first job, they will already know their way around the enterprise solutions being deployed by their employer.

ERP Boot Camp

Young undergrad students aren’t the only ones seeking hands-on experience with the software that runs so much of business today. Panorama Consulting Solutions, a leading independent ERP consulting firm, is currently lining up business executives registering for their 2014 ERP Boot Camp scheduled in Chicago for mid-June. According to their literature, the event provides organizations with the knowledge and expertise necessary to successfully implement new ERP software and navigate organizational change. The Boot Camp even includes an ERP Vendor Showdown, with leading ERP software providers represented, including Microsoft Dynamics AX, Infor and Sage X3.

From college classes to boot camps, an increasing number of business executives are enrolling in management training that teaches the ERP best practices that can make a critical difference when a new software solution is being adopted and implemented. Students who don’t think their particular field of study will have any use for enterprise solutions might be surprised at the venues currently employing an ERP system tailored just for them.

A Solution for Central Park

It is one of the most famous city parks in the world; covering 843 acres, New York City’s Central Park was the first landscaped public park in the United States and with 40 million visitors each year, it is the most visited urban park in the nation. Today the park is managed by the Central Park Conservancy, a private, not-for-profit organization. The Conservancy provides over 85 percent of the park’s annual operating budget, and it also functions as the park’s facility management company, funding and managing all of the construction and maintenance work across the entire 843 acres. Their legacy back office solution could only handle basic accounting capabilities, and with the park’s ever-expanding project agenda, the Conservancy needed real-time reporting for their line managers and directors, and they needed to automate purchasing processes.

Central Park decided to implement a solution from Epicor, and the Conservancy’s reporting capabilities improved almost immediately. The accounting process was made so much more efficient that closing the books each month went from a multi-week process to five business days. Thanks to the greater efficiencies and savings enabled by their new solution and a lot of hard work by the funding team, the Central Park Conservancy has invested nearly $700 million to date into the venue. Conservancy crews now maintain every aspect of the park, from aerating and seeding lawns to raking leaves, planting flowers, maintaining the ball field and playgrounds, to caring for all of the water features and woodlands.

Better Billing for $9 a Month

In case you think that enterprise solutions are just for businesses that deal in millions of dollars, consider this new release from Sage North America. They recently launched a new cloud solution for very small businesses and entrepreneurs called Sage One Invoicing. It gives small business owners the tools they need to get paid faster and reduce the time spent on creating and sending invoices. With Sage One Invoicing even the smallest business owners can -

Create Quotes/Estimates and Invoices

Easily customize and brand company invoices

Set up customer contacts, products and services

Email invoices directly to customers

Track unpaid, partially paid, overdue, and paid invoices

Send reminders on upcoming or overdue invoices

Accept online payments through Sage Payment Solutions1 or PayPal

Monthly subscriptions also include unlimited access to online and phone support, and the price for all of this is just $9 a month.

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